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Employers Back Sharemilkers Owning Shares

SHAREMILKER EMPLOYERS BACK SHAREMILKERS OWNING SHARES

Federated Farmers' Sharemilker Employers' Section supports sharemilkers owning shares in dairy companies, news that has encouraged the Sharemilkers' Section.

The Sharemilker Employers' Section (SES) has endorsed the Dairy Industry Establishment Board Sharemilker Working Party model for sharemilkers owning shares.

The Sharemilkers Working Party was formed last year to investigate sharemilker issues associated with the MergeCo proposal, and was representative of all industry stakeholders.

"The Working Party's model for sharemilker shareholding should not be made redundant along with the Merge Co proposal. Both the Sharemilker Employers' and Sharemilkers' Section firmly believe that sharemilker shareholding, as proposed by the Working Party, should be adopted by all dairy companies," commented Sharemilkers' Section Chair Conall Buchanan.

"The Employers' Section share our view that sharemilkers owning shares will bring benefits to current suppliers. It's great that both Sections are moving forward together on this issue."

"Based on the Working Party's model, sharemilkers holding shares will be no threat to current suppliers as it would only occur with the farm owner's consent."

"It will be very beneficial to suppliers. For instance, a sharemilker may wish to increase production but the farm owner may not wish to put up the capital necessary for the extra shares. The sharemilker could assume responsibility for the extra share purchase - a win-win situation."

"I am confident that progressive dairy companies will see the sense in sharemilkers holding shares and will adopt the recommendation very soon," concluded Mr Buchanan.

ENDS For further information: Conall Buchanan 07 867 7880 Jim Ross (Employers' Section) 07 856 8823

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